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The Australian

Good morning,

Amid a $23bn divorce, Mike Cannon-Brookes is suing the absolute pants off of a once-trusted family office executive, claiming corporate skulduggery has been afoot, Margin Call reports.

US online real estate powerhouse CoStar has moved on Domain Group through a share market raid ahead of launching a $2.65bn takeover proposal for Australia’s second largest market player.

The peak superannuation body remains aggrieved at a decision to axe corporate governance reforms including diversity changes, saying business leaders should ‘rise above politics’.

The markets

Making news this morning

1

Power move: global giant strikes Brisbane mega battery deal

The world’s largest independent commodities trading house has for the first time struck a deal to take energy from an Australian battery project.

2

Rising construction costs hit property market

Real estate funds giant Charter Hall says the property market upswing has begun, but fewer new buildings are being built as costs soar.

3

Insignia tangos with bidders, signals dividends may resume

The wealth group has provided its takeover suitors three detailed presentations apiece as it flagged the board would assess resuming dividend payments in the second half.

Editor's picks

Forrest’s Fortescue raises fresh doubts over green energy projects

Andrew Forrest-led Fortescue blames Donald Trump, European policymakers and the looming federal election as it thinks twice on green hydrogen projects.

By BRAD THOMPSON

Lenders take control of Clough’s Twinza Oil

An oil company started by prominent WA businessman Bill Clough will undertake a debt for equity swap, handing control to a Hong Kong hedge fund.

By PERRY WILLIAMS

Brambles ‘well-placed’ to benefit from Trump trade war

The pallet giant’s boss says the threat of tariffs from US President Donald Trump could work in its favour, as Brambles recorded it's the first pick-up in business volumes in two years.

Commentary

Time’s up for Nine over its woeful Domain grip

By ERIC JOHNSTON

Associate Editor

US giant CoStar has timed its Domain takeover pitch to perfection as Nine Entertainment’s great media experiment is starting to crumble just five years after its merger with Fairfa...

DataRoom

→	Origin, Goodman ponder demergers, spin-offs

Two listed powerhouses, Origin Energy and Goodman Group, could both have their sights on major demergers or spin-offs of units in the coming years.

→	BlueScope management could be Whyalla first step

A move by BlueScope to manage the Whyalla steelworks on behalf of the government could be stage one of a long-term plan to find a solution for the troublesome operation, sources say.

→	Top real estate banker departs Barrenjoey

The dealmaker is the first among the top ranks to leave the Australian investment firm since its launch.